Top headlines: Mixing vaccines for booster, TCS' $50 bn goal, and more

Business Standard brings you the top headlines at this hour

KYC-AML rule breach led to lens on Paytm Payments Bank: Sources

The Reserve Bank of India (RBI) has prohibited Paytm Payments Bank from acquiring new customers primarily owing to violations of norms on “know your customer —anti-money laundering (KYC-AML)”, multiple sources told Business Standard. Banks are supposed to undertake due diligence of customers before on-boarding, which is the first step. Read more...

Will India go for mixing vaccines for booster shot? Decision soon

The decision on whether to all­ow heterologous boosting — or a different vaccine for the third shot — in India is expected soon. Investigators from Christ­ian Medical College, Vellore, who have been carrying out a cl­inical study on mixing vaccin­­es, are likely to present their int­erim data from 400 volunteers. Multiple sources confirmed that a presentation before the subject expert committee of the Central Drugs Standards Con­t­rol Organisation (CDSCO) is ex­p­ected this week. Read more...

Tata Consultancy Services' $50-billion goal below its growth standards

Tata Consultancy Services (TCS) — the largest information technology (IT) services provider in India and the second-largest globally — recently set an ambitious goal of $50 billion in revenue by 2030. The growth required to reach this goal, however, is lower than the company’s own standards. Read more...

Ukraine impact: India's private banks may feel the heat from weak macros

The Ukraine war and associated sanctions and disruptions are leading to a stressful macro situation for India. Inflation, which is already high, is likely to spurt due to supply chain issues across multiple sectors and high energy prices. The RBI may be forced to raise rates to defend the rupee, especially if the US Fed proceeds to hike policy rates and to lighten its balance sheet. This could mean a downgrade to earnings expectations and market valuations. The banking sector will be a key player. Read more...

Around 66% of BSE 500 universe is in the red since October, shows data

Around 66 per cent of the BSE 500 universe is in the red since October, with 71 stocks losing more than 25 per cent of their value. The conflict between Russia and Ukraine and the subsequent market correction may appear to be a good opportunity for investors to nibble into these stocks. But market watchers are of the opinion that valuations are still expensive and there is no clear answer to whether the markets have turned attractive. Read more...